By InvestAdvocate

Lagos (INVESTADVOCATE)- The Nigerian equities market reversed last week’s loss as the gain reflects a mix bag of bargain hunting with the benchmark index and market capitalisation advancing by 0.09 percent week-on-week (w/w) to close at 27,861.03 points and N9.570 trillion respectively.

“Similarly, all other Indices finished higher during the week with the exception of The NSE-Main Board, NSE Insurance, NSE Lotus II and the NSE Industrial Goods Indices that declined by 0.21 percent, 0.55 percent, 1.15 percent and 3.59 percent respectively, while the NSE ASeM Index closed flat,’ according to the domestic bourse weekly market report.

The report says at the close of the week’s session, a turnover of 1.163 billion shares worth N9.251 billion in 14,992 deals were traded by investors on the floor of the Nigerian bourse compared to a total of 934.905 million shares valued at N6.357 billion that exchanged hands last week in 12,352 deals.

According to the NSE’s weekly update, the Financial Services Industry measured by volume led the activity chart with 1.022 billion shares valued at N5.890 billion traded in 8,812 deals; thus contributing 87.93 percent and 63.68 percent to the total equity turnover volume and value respectively. The Conglomerates Industry followed with 61.569 million shares worth N141.308 million in 633 deals. The third place was occupied by the Consumer Goods Industry with a turnover of 33.086 million shares worth N2.017 billion in 2,642 deals.

Trading in the shares of Nigeria’s top tier lenders, Access Bank Plc, Diamond Bank Plc and United Bank of Nigeria Plc measured by volume accounted for 522.737 million shares worth N1.951 billion in 1,914 deals, contributing 44.95 percent and 21.09 percent to the total equity turnover volume and value respectively.

Also traded during the week were a total of 119,743 units of Exchange Traded Products (ETPs) valued at N600,589.51 executed in 25 deals, compared with a total of 184 units valued at N2,077.37 transacted last week in 16 deals.

A total of 1,510 units of Federal Government Bonds valued at N1.558 million were traded in 1 deal compared to a total of 580 units of Federal Government Bonds valued at N N576, 723.03 transacted last week in 2 deals.

A summary of price changes in the review week shows that 22 equities gained in price, same as the previous week. On the flipside, 42 equities lost in price, higher than 35 recorded last week, while 116 equities remained unchanged lower than 123 equities recorded in the preceding week.

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